Washington, D.C. – Producers for American Crude Oil Exports (PACE) launched a digital and cable television ad campaign today in four states as the Energy and Power subcommittee prepares to vote on H.R. 702 – legislation that would create and protect U.S. jobs, enhance U.S. national security and help reduce the price at the pump for consumers. The ad, titled “Iran,” will air through next week on cable news and digital channels in Chicago, Illinois; New York City; Davenport, Iowa; and Houston, Texas.
“It’s time for policymakers to level the playing field and allow U.S. workers to compete on the international stage,” said George Baker, PACE executive director. “Providing our allies and trading partners with a reliable and stable alternative to Iranian crude oil is in our national interest. Achieving this shared goal is possible by fully repealing the crude oil export ban and we urge members of the Energy and Power subcommittee to consider this aspect of the debate when casting their vote on H.R. 702.”
Baker continued, “Lifting restrictions on U.S. crude oil exports will create and protect U.S. jobs, generate considerable investment here at home and put downward pressure on the price at the pump. We are pleased to see that as policymakers and the public continue to learn more about the wide-ranging benefits associated with crude oil exports, momentum builds and support grows. These ads are part of that ongoing education and engagement process.”
All four ads can be viewed on the PACE YouTube channel.
Background: In a recent Short Term Energy Outlook, EIA projects that Iran will increase crude oil production by 600,000 bpd by the end of 2016. Because other OPEC countries have not indicated they will cut production, EIA projects that this increase in Iranian crude oil production would coincide with a 400,000 bpd reduction in U.S. production. This reduction in production will undoubtedly cost additional U.S. jobs.
A recent Bloomberg article, titled, “Americas Will Take Brunt of Any Oil Output Cuts When Iran Returns,” further demonstrates the impact increased Iranian crude oil production will have on U.S. and western hemisphere production.
Ad script: As part of the nuclear agreement with Iran, restrictions on exporting its oil will be lifted. This will help Iran’s economy and create Iranian jobs. Ironically, while the United States will allow Iran to export more crude oil – a ban on oil exports exists here at home. Studies show that U.S. oil exports would create American jobs, spur economic growth and slash gas prices up to 12 cents per gallon. Call Congress – tell them our economy and jobs come first – lift the ban on U.S. oil exports.